Tech 101. Chapter 1. Business Objectives. This chapter deals with the steps in the process of new product development. It looks at: the company the marketplace the competition To determine how the new product opportunity will fit into the overall strategy,
This chapter deals with the steps in the process of new product development. It looks at:
To determine how the new product
opportunity will fit into the overall strategy,
there are a variety of elements that
contribute to a product’s success
The result of this chapter should be to
SELECTING THE NEW PRODUCT
This understanding relates to:
A new product opportunity must easily fit into the
operational culture of the firm in terms of:
WHAT IS THE COMPANY’S STRATEGY IN PURSUING
THIS MARKET— ONE-TIME HIT OR STEADY PURSUIT?
The planning process has a general framework that must be followed to generate the
IS THIS A REASONABLE OPPORTUNITY?
SETTING THE CRITERIA FOR EVALUATION
HOW MUCH OF A STRETCH IS THIS FOR SALES, ENGINEERING, AND MANUFACTURING INFRASTRUCTURE?
THE DANGER OF “PROMISED COMMITMENT” OR GETTING COMMITMENT
THE NEED FOR RESEARCH TO BE TIED TO OPERATIONAL GOALS
EACH NEW PRODUCT DEVELOPMENT EFFORT
SHOULD LEVERAGE VERTICALLY AND
HORIZONTALLY WITHIN THE ORGANIZATION – Fig.1-9.
TAKE AND EXECUTE MANAGEABLE CHUNKS OF DEVELOPMENT
A NEW PRODUCT SHOULD FIT INTO A CONTINUUM OF NEW
PRODUCTS: A FAMILY SUPPORTED BY A STRATEGY
There are two basic types of market research in use today:
Extracting the Opportunity within the
What are the customer problems to focus on?
What should be considered:
See Fig. 1-13 on Page 40 for cost analysis.